Head of Compliance📣 Job Ad

About Foodics

Foodics is a leading restaurant management ecosystem and payment technology provider, established in 2014. Headquartered in Riyadh, the company maintains offices across 5 countries, including UAE, Egypt, Jordan, and Kuwait, and serves customers and partners in over 35 countries worldwide. Foodics has processed over 6 billion orders and is recognized as one of the most rapidly evolving SaaS companies in the MENA region, having successfully raised $170 million in funding.

The Role: Head of Compliance

Foodics is seeking a Head of Compliance to join its team in Riyadh, Saudi Arabia. This full-time position is critical for ensuring that all business processes and transactions comply with KSA and SAMA regulations, as well as internal company standards. The role involves conducting risk assessments, advising management on compliance matters, and regulating information flow between specialist departments and the management team while maintaining strict confidentiality. The Head of Compliance will also participate in developing compliance programs, reviewing company policies, and advising on potential risks with their team.

Key Responsibilities

• Oversee the implementation of the company's compliance program and lead the rollout of associated compliance policies and procedures.
• Lead efforts in identifying and assessing compliance risks to the organization, ensuring proper evaluation of their potential impacts.
• Ensure the organization consistently meets regulatory and compliance obligations, while ensuring policies and procedures are robust and aligned with applicable laws and SAMA regulations.
• Manage the scope of key compliance areas including Know Your Customer (KYC), client relations procedures, client complaints, code of conduct and ethics, incident and complaint reporting, as well as relevant legislation related to payment institutions and local laws.
• Review and approve all documentation submitted to SAMA for new product formations related to the payments business.
• Oversee follow-up actions on SAMA's inspection reports, preparing comprehensive action plans in collaboration with relevant departments to ensure timely and effective resolution.

Anti-Money Laundering (AML) and KYC Leadership

• Act as the Money Laundering Reporting Officer (MLRO), overseeing the company's AML/CFT framework.
• Identify and assess financial crime risks, monitor suspicious activities, ensure appropriate escalation and reporting, and maintain effective controls in line with SAMA and KSA regulations.
• Lead and oversee Know Your Customer (KYC) and Customer Due Diligence (CDD) processes, including customer identification and verification, risk classification, enhanced due diligence for high-risk customers, and ongoing monitoring.
• Ensure compliance with SAMA, AML/CFT requirements, and internal policies across all KYC/CDD activities.

Qualifications and Experience

Candidates for this position should possess 5-10 years of experience in compliance and governance, preferably within the financial technology or payments sector. The role requires a professional who is flexible and adaptable to working effectively in a fast-paced and evolving environment. Demonstrated expertise in KSA and SAMA regulations, AML/CFT frameworks, and KYC/CDD processes is essential for success in this role.

Work Setting

This is a full-time position based in Riyadh, Saudi Arabia.